# MADISON WEALTH MANAGEMENT

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 1801857. Source: https://holderbook.com/funds/1801857-madison-wealth-management/

- Reported value: $475.8M
- Positions: 150
- Weight of the ten largest: 34.6%
- Filed: 2023-11-07

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $27.6M | 87,269 | 5.8% | 16 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $23.1M | 134,655 | 4.8% | 16 |
| WISDOMTREE TR | [USFR](https://holderbook.com/stocks/USFR/) | $22.4M | 445,722 | 4.7% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $18.8M | 142,909 | 4.0% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $18.7M | 53,472 | 3.9% | 16 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $17.6M | 44,720 | 3.7% | 16 |
| CBRE GROUP INC | [CBRE](https://holderbook.com/stocks/CBRE/) | $10.1M | 137,406 | 2.1% | 16 |
| SCHWAB STRATEGIC TR | [FNDF](https://holderbook.com/stocks/FNDF/) | $9.5M | 298,608 | 2.0% | 16 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $8.5M | 65,067 | 1.8% | 16 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $8.2M | 169,417 | 1.7% | 16 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $8.0M | 255,858 | 1.7% | 4 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $7.7M | 229,898 | 1.6% | 4 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $7.3M | 35,164 | 1.5% | 16 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $7.3M | 18,339 | 1.5% | 16 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $7.0M | 13,938 | 1.5% | 16 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $7.0M | 59,637 | 1.5% | 16 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $6.8M | 36,066 | 1.4% | 16 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $6.7M | 53,056 | 1.4% | 16 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $6.3M | 114,734 | 1.3% | 16 |
| VANGUARD BD INDEX FDS | [VUSB](https://holderbook.com/stocks/VUSB/) | $6.2M | 126,555 | 1.3% | 6 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $6.2M | 36,506 | 1.3% | 16 |
| BROOKFIELD INFRASTRUCTURE PA | [BIP](https://holderbook.com/stocks/BIP/) | $6.0M | 204,664 | 1.3% | 16 |
| GARTNER INC | [IT](https://holderbook.com/stocks/IT/) | $5.9M | 17,148 | 1.2% | 14 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $5.6M | 128,916 | 1.2% | 15 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $5.5M | 18,870 | 1.2% | 16 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $5.5M | 57,551 | 1.2% | 16 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $5.4M | 37,127 | 1.1% | 16 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $5.3M | 59,836 | 1.1% | 16 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $5.2M | 93,513 | 1.1% | 16 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $5.0M | 31,551 | 1.1% | 16 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $4.7M | 17,159 | 1.0% | 16 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $4.6M | 20,109 | 1.0% | 16 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $4.4M | 22,106 | 0.9% | 16 |
| CAPITAL GROUP GBL GROWTH EQT | [CGGO](https://holderbook.com/stocks/CGGO/) | $4.4M | 192,103 | 0.9% | 7 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $4.3M | 18,329 | 0.9% | 11 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $4.1M | 11,115 | 0.9% | 11 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $3.8M | 7,570 | 0.8% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $3.8M | 40,836 | 0.8% | 16 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $3.6M | 82,287 | 0.8% | 16 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $3.5M | 6,780 | 0.7% | 5 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $3.5M | 22,183 | 0.7% | 15 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $3.5M | 32,626 | 0.7% | 16 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $3.4M | 6,015 | 0.7% | 16 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $3.4M | 30,080 | 0.7% | 6 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $3.4M | 16,360 | 0.7% | 6 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $3.4M | 23,681 | 0.7% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $3.3M | 7,657 | 0.7% | 16 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $3.1M | 7,564 | 0.7% | 16 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $2.9M | 11,292 | 0.6% | 13 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $2.9M | 7,819 | 0.6% | 1 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $2.9M | 37,975 | 0.6% | 15 |
| SCHWAB STRATEGIC TR | [FNDE](https://holderbook.com/stocks/FNDE/) | $2.8M | 107,458 | 0.6% | 14 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.8M | 13,255 | 0.6% | 16 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.8M | 6,517 | 0.6% | 16 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.7M | 17,522 | 0.6% | 16 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $2.7M | 15,925 | 0.6% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.7M | 30,938 | 0.6% | 11 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $2.6M | 10,592 | 0.6% | 5 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $2.5M | 7,865 | 0.5% | 14 |
| SCHWAB STRATEGIC TR | [SCHK](https://holderbook.com/stocks/SCHK/) | $2.5M | 61,320 | 0.5% | 16 |
| BALL CORP | [BALL](https://holderbook.com/stocks/BALL/) | $2.5M | 49,835 | 0.5% | 3 |
| L3HARRIS TECHNOLOGIES INC | [LHX](https://holderbook.com/stocks/LHX/) | $2.5M | 14,217 | 0.5% | 12 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $2.5M | 5,678 | 0.5% | 16 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $2.3M | 7,631 | 0.5% | 16 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $2.3M | 2,822 | 0.5% | 15 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $2.3M | 17,980 | 0.5% | 5 |
| BLUE OWL CAPITAL INC | [OWL](https://holderbook.com/stocks/OWL/) | $2.3M | 175,800 | 0.5% | 2 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.3M | 13,364 | 0.5% | 16 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $2.2M | 56,488 | 0.5% | 16 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.2M | 80,293 | 0.5% | 16 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $2.2M | 27,010 | 0.5% | 16 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $2.1M | 42,935 | 0.4% | 16 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $2.0M | 13,222 | 0.4% | 16 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $1.8M | 19,752 | 0.4% | 14 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $1.8M | 129,410 | 0.4% | 7 |
| CAPITAL GROUP GROWTH ETF | [CGGR](https://holderbook.com/stocks/CGGR/) | $1.8M | 73,729 | 0.4% | 6 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $1.8M | 65,787 | 0.4% | 16 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $1.7M | 15,720 | 0.4% | 13 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $1.7M | 6,256 | 0.4% | 16 |
| LENNAR CORP | [LENB](https://holderbook.com/stocks/LENB/) | $1.6M | 15,978 | 0.3% | 11 |
| FS KKR CAP CORP | [FSK](https://holderbook.com/stocks/FSK/) | $1.6M | 80,900 | 0.3% | 4 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.5M | 14,714 | 0.3% | 16 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.5M | 24,870 | 0.3% | 16 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $1.4M | 19,492 | 0.3% | 1 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.4M | 8,736 | 0.3% | 16 |
| LAM RESEARCH CORP | [LRCXXXXX](https://holderbook.com/stocks/LRCXXXXX/) | $1.4M | 2,247 | 0.3% | 5 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $1.4M | 19,780 | 0.3% | 16 |
| BLUE OWL CAPITAL CORPORATION | [OBDC](https://holderbook.com/stocks/OBDC/) | $1.4M | 102,594 | 0.3% | 7 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $1.3M | 40,160 | 0.3% | 16 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $1.2M | 18,200 | 0.2% | 6 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $1.1M | 34,347 | 0.2% | 16 |
| VICI PPTYS INC | [VICI](https://holderbook.com/stocks/VICI/) | $1.0M | 35,300 | 0.2% | 6 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $991.7K | 11,048 | 0.2% | 2 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $942.0K | 4,010 | 0.2% | 14 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $911.5K | 619 | 0.2% | 16 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $894.3K | 8,656 | 0.2% | 16 |
| BLACKSTONE SECD LENDING FD | [BXSL](https://holderbook.com/stocks/BXSL/) | $881.7K | 32,225 | 0.2% | 4 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $879.4K | 13,666 | 0.2% | 8 |
| STANDEX INTL CORP | [SXI](https://holderbook.com/stocks/SXI/) | $859.6K | 5,900 | 0.2% | 1 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $831.8K | 15,473 | 0.2% | 16 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2023 | -3.4% | -3.6% | +0.2% | 100% |
| Q2 2023 | +6.3% | +8.3% | -2.0% | 100% |
| Q1 2023 | +4.1% | +7.0% | -3.0% | 100% |
| Q4 2022 | +5.1% | +7.1% | -2.0% | 99% |
| Q3 2022 | -5.4% | -5.3% | -0.1% | 100% |
| Q2 2022 | -18.0% | -16.5% | -1.6% | 100% |
| Q1 2022 | -6.0% | -4.9% | -1.1% | 100% |
| Q4 2021 | +7.6% | +10.7% | -3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $475.8M | 150 |
| Q2 2023 | $494.3M | 152 |
| Q1 2023 | $462.4M | 152 |
| Q4 2022 | $438.0M | 155 |
| Q3 2022 | $407.4M | 158 |
| Q2 2022 | $412.2M | 156 |
| Q1 2022 | $475.9M | 150 |
| Q4 2021 | $499.1M | 151 |
| Q3 2021 | $457.4M | 148 |
| Q2 2021 | $453.4M | 143 |
| Q1 2021 | $408.6M | 138 |
| Q4 2020 | $379.0M | 136 |